Tax Fairness

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Ensuring corporations pay their fair share

Maine is still facing a revenue shortfall in the wake of the pandemic. Working families and small businesses have been paying their fair share of taxes for years. Meanwhile, corporations have found loopholes to avoid paying for the use of our resources.

 

Scroll down to learn more about how corporations are skirting their responsibilities, and what can be done to hold them accountable.

State of Maine

COVID-19 response

​– Maine’s Revenue Forecasting Committee has projected a $650 million shortfall over the next three budget years. If the state is forced to make major cuts to essential services, communities and families will feel the impacts most directly. Meanwhile, big corporations often hide profits through the use of off-shore accounts, utilizing these tax havens to avoid paying their fair share. LD 428 would require these corporations to file income tax returns in Maine that include income from known tax havens.

Information on closing corporate tax loopholes:

– Large retailers use a tactic called “dark store theory” to get out of paying property taxes. The “dark store theory” is where commercial property owners challenge their tax assessment by using vacant stores or properties as comparable values; arguing that their value should be aligned with properties that are not in use. This has led to millions of dollars less in property taxes for Maine’s municipalities.

Information on the dark store theory:

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© 2019 Mainers for Working Famililes